- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
(1)In Chapter 3 of Part 2 of the Capital Allowances Act 2001 (c. 2) (plant and machinery: qualifying expenditure), for section 36 (restriction on qualifying expenditure in case of employment or office) substitute—
(1)Where the qualifying activity consists of an employment or office—
(a)expenditure on the provision of a mechanically propelled road vehicle, or a cycle, is not qualifying expenditure, and
(b)other expenditure is qualifying expenditure only if the plant or machinery is necessarily provided for use in the performance of the duties of the employment or office.
(2)In this section “cycle” has the meaning given by section 192(1) of the Road Traffic Act 1988.”.
(2)Section 80 of that Act (vehicles provided for purposes of employment or office) is repealed.
(3)The above amendments apply to expenditure incurred on or after 6th April 2002.
(4)Where immediately before 6th April 2002—
(a)expenditure incurred by an employee on the provision of a mechanically propelled road vehicle, or a cycle, was qualifying expenditure for the purposes of Part 2 of the Capital Allowances Act 2001 (c. 2) , and
(b)the employee is treated for the purposes of that Part as owning an asset as a result of that expenditure having been incurred,
the employee shall be treated for the purposes of that Part of that Act as if he had ceased to own the asset at that time.
(5)In subsection (4)—
“employee” includes an office-holder; and
“cycle” has the meaning given by section 192(1) of the Road Traffic Act 1988 (c. 52).
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: